Your research the average cost of whole milk for several years to look for trends.the table show your data what is the equation for a line of best fit how much would you expect to pay for a gallon of milk in the year

Year 1998-2000-2002-2004-2006-2008
Cost 2.28-2.76-2.94-2.91-3.19-3.72of milk
Answers are
Y=2.54x+0.098 $4.98
Y=0.098x+2.54 $6.16
Y=2.054x+0.098 $6.16
Y=0.098x+2.54 $4.98
Thanks

In a regression equation, substitute the amount for x to solve for y. This will give you the predicted cost for whatever year you choose.

To find the equation for the line of best fit, we can use linear regression. This statistical method helps us determine the relationship between two variables, in this case, the year and the cost of milk.

Step 1: Calculating the mean of the year and cost data:
- Year: (1998 + 2000 + 2002 + 2004 + 2006 + 2008) / 6 = 2004
- Cost: (2.28 + 2.76 + 2.94 + 2.91 + 3.19 + 3.72) / 6 = 3.05

Step 2: Calculate the deviations from the mean for both variables:
- Year deviations: 1998 - 2004 = -6, 2000 - 2004 = -4, 2002 - 2004 = -2, 2004 - 2004 = 0, 2006 - 2004 = 2, 2008 - 2004 = 4
- Cost deviations: 2.28 - 3.05 = -0.77, 2.76 - 3.05 = -0.29, 2.94 - 3.05 = -0.11, 2.91 - 3.05 = -0.14, 3.19 - 3.05 = 0.14, 3.72 - 3.05 = 0.67

Step 3: Calculate the products of the deviations:
- (-6) * (-0.77) = 4.62
- (-4) * (-0.29) = 1.16
- (-2) * (-0.11) = 0.22
- (0) * (-0.14) = 0
- (2) * (0.14) = 0.28
- (4) * (0.67) = 2.68

Step 4: Calculate the squared deviations for the year:
- (-6)^2 = 36
- (-4)^2 = 16
- (-2)^2 = 4
- (0)^2 = 0
- (2)^2 = 4
- (4)^2 = 16

Step 5: Calculate the sum of the squared deviations for the year:
- 36 + 16 + 4 + 0 + 4 + 16 = 76

Step 6: Calculate the sum of the products of the deviations:
- 4.62 + 1.16 + 0.22 + 0 + 0.28 + 2.68 = 9.96

Step 7: Calculate the slope (m) using the formula:
- m = sum of the products of the deviations / sum of the squared deviations for the year = 9.96 / 76 = 0.130526316

Step 8: Calculate the y-intercept (b) using the formula:
- b = mean of the cost - (slope * mean of the year) = 3.05 - (0.130526316 * 2004) = -213.1810526

Step 9: Substitute the slope (m) and y-intercept (b) into the equation:
- Y = 0.130526316x - 213.1810526

To find out how much you would expect to pay for a gallon of milk in the year 2010 (x = 2010), substitute it into the equation:
- Y = 0.130526316 * 2010 - 213.1810526 = 262.356842 - 213.1810526 = $49.17

Therefore, the correct answer is: Y = 0.130526316x - 213.1810526, and you would expect to pay $49.17 for a gallon of milk in the year 2010.